Saving and investing are the two most important things that can help you achieve your financial goals.
Saving money is one of the basic things our parents have taught us when it comes to handling our money. Saving is about setting aside money for future use. This is why many Filipinos looked at savings as the best way to secure their financial future. However, with the the inflation getting worst, savings accounts are starting to develop a bad reputation for having such low returns.
Investing, on the other hand, refers to buying things which values grow over time. These things could either be a lot, a house, jewelries, or stocks which you can buy through stocks exchange market. The latter especially was made easy with the help of technology and a growing variety of opportunities made available. These days, you can actually invest on the stock market by just using a mobile app.
But that doesn’t mean that you should start investing right away? There’s a financial rule that you should assess your current financial situation first before investing on anything. And obviously, savings should come first before investing. But how will you know whether your savings is enough for you to start investing or not? Well, let us help you with the infographics below.
Securing your financial future is an important decision that requires a lot of decision making, research, and professional advice. But at the end of the day, deciding whether to save money or invest will be up to you. The important thing is that you are actually taking a step in securing your financial future.